Senior AAP leader Prem Garg alleges fake fixed deposits worth ₹108 crore in IDFC First Bank and seeks an independent CBI investigation.
Chandigarh, March 10: Senior Aam Aadmi Party (AAP) leader Prem Garg has strongly condemned the alleged financial irregularities involving around ₹108 crore linked to fake fixed deposits in IDFC First Bank associated with the Municipal Corporation (MC) Chandigarh. Calling the matter a serious financial scandal, he demanded an immediate Central Bureau of Investigation (CBI) probe to uncover the full extent of the alleged conspiracy.
Prem Garg questioned why Municipal Corporation officials deposited public funds in a private bank such as IDFC First Bank when large government funds are generally kept in nationalized banks like State Bank of India (SBI) or Punjab National Bank (PNB), which are considered more secure.
He asked the administration to clarify who authorized the opening of the account and under whose direction the funds were deposited in the private bank.
Garg also rejected claims by Municipal Corporation officials that the entire amount had been returned by the bank. According to him, the funds could still remain under lien until legal proceedings are completed, meaning the amount cannot be released without permission from a court or competent authority.
He added that such legal processes can take several months, making the funds effectively blocked and unavailable for public use at present.
The AAP leader also criticized the functioning of the Municipal Corporation, alleging that several previous scams had not seen any concrete action against those responsible.
Citing examples, he referred to the paid parking scam, the CITCO fake bank guarantee case, and alleged illegal extortion by enforcement staff from street vendors, which he claimed involves crores of rupees. Garg alleged that in most of these cases no strict action has been taken against the officials involved, which encourages corruption.
“The people of Chandigarh deserve transparency and accountability. Misuse of public money in this manner cannot be accepted under any circumstances,” Prem Garg said.
He demanded the following actions from the administration:
- A fair and independent CBI investigation into the entire case.
- Immediate identification of all officials and individuals involved in the misuse of funds.
- Arrest of those responsible for accounts where the funds were transferred.
- A comprehensive audit of all deposits and financial transactions of the Municipal Corporation.
Prem Garg said that the Aam Aadmi Party will continue to raise the issue until every rupee of public money is secured and all those responsible for the alleged scam are brought under the law.
